MIC Group is a

Moscow Moscow ( , US chiefly ; rus, links=no, Москва, r=Moskva, p=mɐskˈva, a=Москва.ogg) is the capital and largest city of Russia. The city stands on the Moskva River in Central Russia, with a population estimated at 13.0 million ...

-based construction

organization An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived fro ...

comprising

property development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re- lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to othe ...

construction Construction is a general term meaning the art and science of forming Physical object, objects, systems, or organizations."Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University P ...

and

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more genera ...

companies. It specializes mainly in housing construction.

History

Founded in 1999 as a

company, "Moskovskiy Ipotechny Centr – MIC" moved into the investment and property development sector in 2001. This was when it became a co-investor in a number of

housing projects. In 2000, MIC Group had a turnover of 1.1 bn

ruble The ruble (American English) or rouble (Commonwealth English) (; rus, рубль, p=rublʲ) is the currency unit of Belarus and Russia. Historically, it was the currency of the Russian Empire and of the Soviet Union. , currencies named ''rub ...

s, which increased to 1.6 bn rubles in 2007, 20 bn rubles in 2012, and 49 bn rubles in 2014. Its

debt Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The d ...

burden is 1.5–2 bn rubles. In 2013, RBC Rating named MIC as the second biggest property developer in

Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-eigh ...

by construction volume. In 2017, MIC Group announced plans to invest 28 bn rubles in the construction of over 700,000 sq m of housing in "

New Moscow New Moscow may refer to: * New Moscow, Ohio, an unincorporated community in the United States * New Moscow, Moscow, a territorial expansion of the city of Moscow, Russia * Novaya Moskva, a number of inhabited localities in Russia * 1889 name of a ...

". In 2019, MIC was ranked 14th in the rating of the most reliable Russian developers according to Forbes. He was also included in the rating of the 500 largest companies in Russia in terms of revenue, according to RBC. In July 2019, MIC became the first development company to completely switch to sales using escrow accounts. In 2020, LLC "GC" MIC "was included in the updated list of systemically important companies, approved by the government as part of measures to support the economy due to the coronavirus pandemic.

References

{{Authority control Construction and civil engineering companies of Russia Construction and civil engineering companies established in 1999 Russian companies established in 1999